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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
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